The most highly paid CEOs of Bermuda companies

By Associated Press
June 27, 2008
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The CEO of an oil and gas driller leads the list of the most highly paid chief executives of Bermuda companies. Eugene Isenberg of Nabors Industries Ltd. was No. 1 among companies in Bermuda.

AP examined 2007 CEO pay data from the 410 companies in the S&P 500 that filed compensation disclosures with federal regulators in the first six months of this year. The following are the top earners in Bermuda.

1. Eugene Isenberg of Nabors Industries Ltd.: $44.6 million

2. Edward Breen of Tyco International: $34.1 million

3. Richard Meelia of Covidien Ltd.: $28.4 million

4. Evan Greenberg of ACE Limited: $14.8 million

5. Brian O'Hara of XL Capital Ltd.: $7.5 million

The AP's formula includes salary, perks, bonuses, above-market interest on pay set aside for later, and company estimates for the value of stock options and stock awards on the day they were granted.
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